The results of the “Cryptocurrency Awareness and Perception Research-2023” provide important information on the cryptocurrency and blockchain sector. The research aims to reflect the developments of the cryptocurrency ecosystem in Turkey, to share the data obtained with the public and stakeholders, to identify expectations, motivations and obstacles related to cryptocurrency and to draw a correct road map.
According to the shared data, the number of Paribu users has exceeded 6 million in the last 1 year. According to the research results, the awareness of crypto money is increasing every year. While the rate of those who heard of crypto money was 77 percent in the previous year, it increased to 99 percent this year. It is worth adding that in 2021 and 2020, the crypto awareness rate was 70 percent and 16 percent, respectively.
According to the research, cryptocurrencies are mostly used for short-term trading transactions. 3 out of every 4 people state that cryptocurrencies are used for short-term trading. 4 out of every 5 people who make transactions share the same opinion. Short-term trading is followed by long-term investment and money transfers.
75 per cent of those who have heard of crypto money think that the biggest advantage of crypto is the ease of storage and transport. Likewise, trading without time and space limitations with 75 per cent and transaction speed with 74 per cent are among the other prominent advantages. On the other hand, 4 out of 10 people who have heard of cryptocurrency state that they find cryptocurrencies disadvantageous because they do not know how to use them and do not find them reliable enough.
According to the research, for 30 per cent of those who have heard of cryptocurrency, the first concept that comes to mind when it comes to cryptocurrency is virtual money. The concept of virtual money is followed by Bitcoin with 24 per cent.
The rate of those who have traded with cryptocurrency in the last year has increased from 13.4 per cent to 25.1 per cent since last year. The shared data shows that 1 out of every 2 people who trade with cryptocurrency are trading with the expectation of high returns.
